Occidental Petroleum stock sets 6 billion dollar debt target after Q3 milestone

Published on 11/14/2026 at 11:17 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Occidental Petroleum stock cleared a major balance-sheet milestone in the third quarter. Management expects fourth-quarter output to recover.

Debt Reduction Shapes Occidental Outlook

Occidental reported third-quarter adjusted earnings of 1.91 US dollars per diluted share on November 9.
Production exceeded the midpoint of guidance, while management expects fourth-quarter output to recover.
Lower debt and disciplined investment remain central to the company's financial plan.

Occidental Petroleum, US6745991058, Illustration mit AI erstellt.

Occidental Petroleum announced its third-quarter results on November 9, reporting a major debt milestone alongside production above the midpoint of guidance. The company said it reduced principal debt to 10.0 billion US dollars after retiring 10.4 billion US dollars since the beginning of 2026.

The MarketScreener reproduction of the company release said Occidental generated 4.1 billion US dollars of operating cash flow from continuing operations and 2.8 billion US dollars of free cash flow before working capital. Reported diluted earnings per share were 1.61 US dollars, while adjusted earnings per share from continuing operations reached 1.91 US dollars.

Production Beat Supports Near-Term Outlook

Global production averaged 1.427 million barrels of oil equivalent per day in the third quarter. Permian and Rockies operations offset a temporary curtailment at certain Gulf of America facilities caused by a third-party gas pipeline constraint and maintenance work.

Management also pointed to lower realized crude prices as a factor affecting oil and gas results. The company continues to emphasize debt reduction, operating efficiency and capital discipline while advancing its lower-carbon activities.

Debt Target Sets Next Milestone

After reaching the 10.0 billion US dollar principal-debt milestone, Occidental has established a further target of 6.0 billion US dollars. Reaching that level would reduce the company's interest expense run rate and could support greater financial flexibility through the commodity cycle.

Occidental Petroleum stock traded at 53.21 euros on Lang & Schwarz at 11:15 CET on Saturday, November 14.